EMXC vs IEMG: Grades, Fees and Holdings Compared

iShares MSCI Emerging Markets ex China ETF

EMXCBNasdaq

iShares Core MSCI Emerging Markets ETF

IEMGANYSE Arca

Overlap

70.5%by weight

Expense ratio

IEMG −0.16pt a year

EMXC0.25%IEMG0.09%

Avg volume · 30D

IEMG 5.1×the volume

EMXC2.33MIEMG11.8M

5Y return · a year

EMXC +4.2pt

EMXC+10.8%IEMG+6.6%

EMXC vs IEMG Performance

Oct 29, 2021 – Oct 30, 2026

+66.7%EMXC+37.7%IEMG

Expense ratio: EMXC 0.25%; IEMG 0.09%, better
Fund size: EMXC $25.4B; IEMG $146B
1Y total return: EMXC +27.3%, better; IEMG +11.5%
Yield (12M): EMXC 2.14%; IEMG 2.42%, better
Holdings: EMXC 625; IEMG 2857
Avg volume (30D): EMXC 2.33M sh; IEMG 11.8M sh, better
NAV per share: EMXC $89.69; IEMG $74.19
52W range

ETF.net Grade

Pillar letters and Scores for EMXC, IEMG, with each pillar’s weight
Pillar	EMXC	IEMG
Cost30% weight	B63	A84Higher
Mission25% weight	A100	A100
Risk15% weight	D36	C42Higher
Tradability15% weight	C52	B56Higher
Holdings10% weight	D35	A76Higher
Durability5% weight	C47	A79Higher

Rank among MSCI Emerging Markets Core funds

How we build Categories ›

Same Category. EMXC and IEMG are both graded against the same 5 MSCI Emerging Markets Core funds, so their Grades compare head to head.

MSCI Emerging Markets Core⁠

Category · 5 funds

See all 5 ›

IEMG ranks 1st and EMXC 2nd of 5 funds in the MSCI Emerging Markets Core Category.

Rank 1AIEMGiShares Core MSCI Emerging Markets ETFScore 76
Rank 2BEMXCiShares MSCI Emerging Markets ex China ETFScore 63
Rank 3BEEMiShares MSCI Emerging Markets ETFScore 59

Our read on each fund

ETF.net Research

EMXCBiShares MSCI Emerging Markets ex China ETF

IEMGAiShares Core MSCI Emerging Markets ETF

In short

EMXC Launched in 2017, EMXC turns one decision into two: own large- and mid-cap emerging markets through a standard MSCI index, then size China on your own, separately. Roughly 600 stocks, one very large country deliberately absent.

IEMG iShares' emerging-markets workhorse: large, mid and small caps across developing economies in one fund at 0.09% a year, against a 0.66% median for its peer group. Built as a cheap core holding, not a tactical trade.

Stated mandate

EMXC The fund seeks to track an index of large- and mid-cap companies across emerging markets while excluding China, providing diversified international equity exposure.

IEMG The fund seeks to track an index representing large-, mid- and small-capitalization equities from emerging markets.

Why people hold it

EMXC Costs 0.25% a year, well under the roughly 0.66% median in its MSCI emerging-markets cohort.
A multi-billion-dollar, actively traded fund, one of the established ways to run the ex-China version of emerging markets.
No bolted-on tilts. It follows the MSCI Emerging Markets ex China Index of roughly 600 large- and mid-cap names, and the mandate matches the label.ishares.com
iShares frames it as keeping broad emerging-markets exposure while handling the China allocation separately, which fits investors who already own China elsewhere.ishares.com

IEMG Charges 0.09% a year while the typical fund in its peer group takes 0.66%. The older in-house sibling EEM charges 0.72% for a narrower large- and mid-cap index.
Tracks the MSCI Emerging Markets IMI, which targets about 99% of each country's free float and reaches into the small caps that large- and mid-cap EM funds skip. Roughly 2,800 holdings.msci.com ishares.com
One of the largest and most heavily traded funds in the category, which typically shows up as tight spreads for the person clicking buy.
No currency hedge, no ex-China carve-out, no climate screen. Straight cap-weighted emerging-markets exposure, and one of the strongest implementations in its peer group.

Worth knowing

EMXC The carve-out costs extra: IEMG covers broad emerging markets including China for 0.09%. Splitting the exposure also means two tickers to maintain.
Emerging-market equities move hard in both directions, and cutting out one large market leaves the rest of the index carrying the whole load.
Distributions arrive annually or semiannually, not monthly or quarterly.

IEMG Emerging markets bring currency, political and liquidity risks that developed-market equity does not, and the prospectus spells that out. Expect a bumpier ride.ishares.com
Cap weighting means a handful of countries and their biggest companies drive most of the move, even with roughly 2,800 names in the basket.msci.com
Cash comes back once or twice a year rather than monthly, so income arrives in lumps.

Full EMXC profile⁠

Full IEMG profile⁠

EMXC vs IEMG Holdings

How EMXC and IEMG differ

Overlap by weight

70.5%

Shared holdings make up 100% of EMXC and 70.7% of IEMG.

Level by level

Holdings605 in both70.5%
Countryby domicile80.9%
Sector11 Sectors89.1%
Asset classEquity100%

Sector

Sector weights in EMXC and IEMG, widest gap first
Sector	More in EMXCMore in IEMG	EMXC	IEMG
Technology	EMXC +10.4 points	49.7%	39.3%
Consumer Discretionary	IEMG +4.2 points	3.8%	8.0%
Communication	IEMG +2.5 points	3.2%	5.7%
Health Care	IEMG +1.5 points	2.0%	3.5%
Industrials	IEMG +1.1 points	6.2%	7.3%
Real Estate	IEMG +0.7 points	0.9%	1.6%
Financials	EMXC +0.4 points	19.8%	19.4%
Consumer Staples	IEMG +0.4 points	2.7%	3.1%
Utilities	IEMG +0.3 points	1.9%	2.2%
Materials	IEMG +0.2 points	6.1%	6.3%
Energy	EMXC +0.1 points	3.7%	3.6%

Country, concentration and asset class

Country by domicile

Country weights in EMXC and IEMG, widest gap first
Country	More in EMXCMore in IEMG	EMXC	IEMG
China	IEMG +19.1 points	0.0%	19.1%
Taiwan	EMXC +7.8 points	38.2%	30.4%
South Korea	EMXC +6.0 points	26.4%	20.4%
India	EMXC +1.7 points	15.0%	13.3%
South Africa	EMXC +1.6 points	8.8%	7.2%
Brazil	EMXC +1.1 points	5.1%	4.0%
Other countries (4)	EMXC +0.8 points	6.4%	5.6%

Outside the US: EMXC 0% developed, 100% emerging. IEMG 0% developed, 100% emerging.

Concentration

Weight in the 10 largest Holdings

EMXC42.5%
IEMG33.0%

Securities held

EMXC605
IEMG2,828

Asset class

EMXC: Equity
IEMG: Equity

Holdings

Only in EMXC0
In both605
Only in IEMG2,223

Only in EMXC

0 securities, 0.0% of EMXC by weight

Only in IEMG

2,223 securities, 29.5% of IEMG by weight

Tencent Holdings2.34%
Alibaba Group Holding1.61%
China Construction Bank Corp H0.86%
Industrial and Commercial Bank of0.51%
Xiaomi0.45%
Bank of China Ltd H0.41%
Meituan0.36%
Pdd Holdings Ads0.32%
Ping An Insurance (Group) Co of Ch0.31%
Netease0.31%
Byd H0.25%
Jd.com Class A0.23%
Petrochina H0.22%
China Merchants Bank H0.21%
Agricultural Bank of China H0.18%
Trip.com Group0.18%
China Life Insurance Ltd H0.18%
Beone Medicines AG0.17%
Zijin Mining Group Ltd H0.16%
Baidu0.16%
Wuxi Biologics Cayman0.15%
Lenovo Group0.15%
China Shenhua Energy Ltd H0.14%
Kweichow Moutai A0.12%
Yum China Holdings Inc0.12%
Innovent Biologics0.11%
Picc Property and Casualty Ltd H0.11%
China Petroleum and Chemical H0.11%
Anta Sports Products Ltd0.09%
Ke Holdings0.09%
Geely Automobile Holdings Ltd0.09%
China Resources Land0.09%
Taiwan Union Technology0.08%
Nongfu Spring Ltd H0.08%
Kuaishou Technology0.07%
Contemporary Amperex Technology A0.07%
Wuxi Apptec H0.07%
Kinsus Interconnect Technology Cor0.07%
China Pacific Insurance (Group) H0.07%
H World Group Adr0.07%
Nan Ya Printed Circuit Board Corp0.07%
China Citic Bank Corp Ltd H0.07%
Bank of Communications Ltd H0.07%
Pop Mart International Group0.07%
China Hongqiao Group Ltd0.06%
Cspc Pharmaceutical Group0.06%
China Merchants Bank A0.06%
Zto Express (Cayman) Inc0.06%
Powerchip Semiconductor Manufactur0.06%
Contemporary Amperex Technology Class0.06%

Weight gaps

The 100 widest of 605 Holdings in both funds.

Holding weights in EMXC and IEMG, widest gap first
Holding	More in EMXCMore in IEMG	EMXC	IEMG
Taiwan Semiconductor Manufacturing	EMXC +5.85 points	19.79%	13.94%
Samsung Electronics Ltd	EMXC +2.57 points	8.71%	6.14%
Sk Hynix	EMXC +1.91 points	6.48%	4.57%
Mediatek	EMXC +0.56 points	1.91%	1.35%
Samsung Electronics Non Voting Pre	EMXC +0.35 points	1.16%	0.81%
Hon Hai Precision Industry	EMXC +0.30 points	1.02%	0.72%
Hdfc Bank	EMXC +0.27 points	0.92%	0.65%
Delta Electronics	EMXC +0.26 points	0.88%	0.62%
Icici Bank	EMXC +0.25 points	0.86%	0.61%
Reliance Industries Ltd	EMXC +0.23 points	0.78%	0.55%
Ase Technology Holding	EMXC +0.23 points	0.76%	0.53%
Sk Square	EMXC +0.21 points	0.69%	0.48%
Bharti Airtel Ltd	EMXC +0.20 points	0.65%	0.45%
Samsung Electro Mechanics Ltd	EMXC +0.17 points	0.56%	0.39%
Al Rajhi Bank	EMXC +0.15 points	0.51%	0.36%
Petroleo Brasileiro Pref SA	EMXC +0.15 points	0.50%	0.35%
Nan Ya Plastics Corp	EMXC +0.14 points	0.48%	0.34%
Cia Vale Do Rio Doce Sh	EMXC +0.14 points	0.46%	0.32%
Nu Holdings Class ANU	EMXC +0.13 points	0.46%	0.33%
Fubon Financial Holding	EMXC +0.14 points	0.46%	0.32%
Petroleo Brasileiro SA Petrobras	EMXC +0.14 points	0.46%	0.32%
Saudi Arabian Oil	EMXC +0.14 points	0.46%	0.32%
Unimicron Technology	EMXC +0.13 points	0.45%	0.32%
Anglogold Ashanti PLC	EMXC +0.14 points	0.45%	0.31%
Elite Material	EMXC +0.13 points	0.45%	0.32%
Ctbc Financial Holding	EMXC +0.13 points	0.43%	0.30%
Kb Financial Group	EMXC +0.12 points	0.43%	0.31%
United Micro Electronics Corp	EMXC +0.13 points	0.43%	0.30%
Infosys	EMXC +0.13 points	0.42%	0.29%
Itau Unibanco Holding Pref SA	EMXC +0.13 points	0.43%	0.30%
Grupo Mexico B	EMXC +0.12 points	0.39%	0.27%
Cathay Financial Holding	EMXC +0.12 points	0.38%	0.26%
Naspers Limited Class N	EMXC +0.09 points	0.33%	0.24%
Ts Financial Holding	EMXC +0.10 points	0.33%	0.23%
Gold Fields	EMXC +0.10 points	0.33%	0.23%
Asia Vital Components	EMXC +0.10 points	0.34%	0.24%
Firstrand Ltd	EMXC +0.10 points	0.31%	0.21%
Shinhan Financial Group	EMXC +0.09 points	0.31%	0.22%
Larsen and Toubro Ltd	EMXC +0.09 points	0.30%	0.21%
Quanta Computer	EMXC +0.09 points	0.31%	0.22%
Hyundai Motor	EMXC +0.09 points	0.31%	0.22%
The Saudi National Bank	EMXC +0.09 points	0.31%	0.22%
Otp Bank	EMXC +0.09 points	0.31%	0.22%
Kuwait Finance House	EMXC +0.09 points	0.30%	0.21%
Kotak Mahindra Bank Ltd	EMXC +0.08 points	0.29%	0.21%
Gpo Finance Banorte	EMXC +0.08 points	0.29%	0.21%
Accton Technology	EMXC +0.09 points	0.28%	0.19%
Mahindra and Mahindra Ltd	EMXC +0.09 points	0.29%	0.20%
Powszechna Kasa Oszczednosci Bank	EMXC +0.08 points	0.28%	0.20%
Axis Bank	EMXC +0.08 points	0.31%	0.23%
Bajaj Finance Ltd	EMXC +0.08 points	0.27%	0.19%
Samsung Sdi Ltd	EMXC +0.08 points	0.27%	0.19%
Hana Financial Group	EMXC +0.08 points	0.27%	0.19%
Yageo	EMXC +0.08 points	0.27%	0.19%
Capitec Shs	EMXC +0.08 points	0.27%	0.19%
Yuanta Financial Holding	EMXC +0.08 points	0.27%	0.19%
Standard Bank Group	EMXC +0.08 points	0.26%	0.18%
Saudi Telecom	EMXC +0.07 points	0.24%	0.17%
Credicorp LtdBAP	EMXC +0.07 points	0.26%	0.19%
First Abu Dhabi Bank	EMXC +0.08 points	0.25%	0.17%
National Bank of Kuwait	EMXC +0.07 points	0.25%	0.18%
E.sun Financial Holding	EMXC +0.07 points	0.25%	0.18%
Celltrion	EMXC +0.07 points	0.24%	0.17%
Tata Consultancy Services Ltd	EMXC +0.07 points	0.24%	0.17%
Orlen	EMXC +0.07 points	0.24%	0.17%
Wistron	EMXC +0.07 points	0.20%	0.13%
Mtn Group	EMXC +0.07 points	0.23%	0.16%
Fomento Economico Mexicano	EMXC +0.07 points	0.23%	0.16%
Global Unichip	EMXC +0.06 points	0.22%	0.16%
Chunghwa Telecom Ltd	EMXC +0.07 points	0.21%	0.14%
Emaar Properties	EMXC +0.06 points	0.21%	0.15%
Samsung C&T Corp	EMXC +0.06 points	0.21%	0.15%
Mega Financial Holding Ltd	EMXC +0.06 points	0.21%	0.15%
Asustek Computer Inc	EMXC +0.06 points	0.21%	0.15%
Delta Electronics (Thailand) Non-V	EMXC +0.06 points	0.21%	0.15%
State Bank of India	EMXC +0.06 points	0.21%	0.15%
Chroma Ate	EMXC +0.06 points	0.21%	0.15%
Doosan Enerbility Ltd	EMXC +0.06 points	0.20%	0.14%
Naver	EMXC +0.06 points	0.20%	0.14%
America Movil B	EMXC +0.06 points	0.20%	0.14%
Qatar National Bank	EMXC +0.06 points	0.22%	0.16%
Nanya Technology Corp	EMXC +0.06 points	0.20%	0.14%
Sinopac Financial Holdings	EMXC +0.06 points	0.19%	0.13%
Hanwha Aerospace Ltd	EMXC +0.05 points	0.19%	0.14%
Eternal	EMXC +0.06 points	0.19%	0.13%
Emirates Telecommunications Group	EMXC +0.06 points	0.21%	0.15%
Kgi Financial Holding	EMXC +0.06 points	0.20%	0.14%
Valterra Platinum Ltd	EMXC +0.06 points	0.19%	0.13%
Sun Pharmaceutical Industries	EMXC +0.06 points	0.19%	0.13%
Kia Corporation	EMXC +0.06 points	0.19%	0.13%
Cemex Cpo	EMXC +0.05 points	0.18%	0.13%
Saudi Arabian Mining	EMXC +0.05 points	0.19%	0.14%
Public Bank	EMXC +0.05 points	0.18%	0.13%
Titan Company Ltd	EMXC +0.05 points	0.18%	0.13%
Samsung Life Ltd	EMXC +0.05 points	0.18%	0.13%
King Slide Works	EMXC +0.06 points	0.19%	0.13%
Jentech Precision Industrial Ltd	EMXC +0.06 points	0.19%	0.13%
Wiwynn Corporation	EMXC +0.06 points	0.19%	0.13%
Southern Copper CorpSCCO	EMXC +0.05 points	0.18%	0.13%
Winbond Electronics	EMXC +0.06 points	0.18%	0.12%

All 607 EMXC holdings⁠All 2,851 IEMG holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

EMXC vs IEMG Cost

Overpaying EMXC vs IEMG

$3,261

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

EMXC 0.25%
$5,159
IEMG 0.09%
$1,898

Amount$10,000

Years30 years

Cost over time

EMXC 0.25%
IEMG 0.09%
Overpaying

Year by year

Year	EMXC	IEMG	Overpaying
10	$455	$165	$290
20	$1,769	$646	$1,123
30	$5,159	$1,898	$3,261

Expense ratio

0.25%EMXC
0.09%IEMG, cheaper

IEMG0.09%EMXC0.25%

0.09%1.51%

Middle half of MSCI Emerging Markets Core funds
Median 0.66%

IEMG cheapest of 5 funds

EMXC 2nd cheapest of 5 funds

EMXC vs IEMG Dividends

Last 12 months to Oct 30, 2026

Yield (12M): EMXC 2.14%; IEMG 2.42%, better
Payout (12M): EMXC $1.92; IEMG $1.80
Last payment: EMXC $0.59; IEMG $0.66
Ex-dividend: EMXC Jun 15, 2026; IEMG Jun 15, 2026
Paid on: EMXC Jun 18, 2026; IEMG Jun 18, 2026
Frequency: EMXC Twice a year; IEMG Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

EMXCTwice a year · 19 paymentsAll EMXC payments⁠

IEMGTwice a year · 19 paymentsAll IEMG payments⁠

EMXC vs IEMG Risk

Fall from peak · 5 years

EMXC
IEMG

Risk facts

VolatilityStd dev, 3 years: EMXC 20.0%IEMG 15.9%, better
Return per unit of riskSharpe ratio, 3 years: EMXC 1.04, betterIEMG 1.00
Worst fallMax drawdown, 5 years: EMXC −28.9%, betterIEMG −32.0%
Market sensitivityBeta, 5 years: EMXC 1.19IEMG 1.01; Market = 1

EMXC and IEMG in the news

All news⁠

First-Year Review
Myriad's allocation fund gained 17%, 1.6 percentage points ahead of global stocks
Oct 2, 2026EMXCIEMG
Deep Dive
Korea's 3.9% drop split two kinds of emerging-markets fund
Sep 20, 2026EMXCIEMG
Deep Dive
Korea funds gained 94% this year. China internet funds lost 28%
Sep 13, 2026EMXCIEMG
Deep Dive
Two $160 billion EM funds are 11 percentage points apart. Korea is why
Sep 5, 2026EMXCIEMG
Best ETFs
Best international ETFs: one cheap fund, then the Korea choice
Updated Nov 2, 2026IEMG
Head-to-Head
South Korea is the difference between VWO and IEMG
Oct 20, 2026IEMG

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EMXC vs IEMG

In short

Stated mandate

Why people hold it